UNDP in Ethiopia

Realizing the Promise and the Potential of Commodity Exchanges in Africa

08 Nov 2011

The Ethiopia Commodity Exchange (ECX) and UNDP-Ethiopia are partnering to organize what promises to be a historic Convening to deliberate on innovative market instruments believed to transform Africa’s commodities into tradable assets. Participants of the meeting will explore the role and functioning of commodity exchanges and their potential for transforming Africa.

The two-day event held at the Sheraton Addis on 8-9 November 2011 brings together several hundred stakeholders including Africa’s various exchange initiatives from Rwanda, Ghana, Nigeria, Zambia, Zimbabwe, South Africa, and elsewhere, as well as market regulators, including the US Securities and Exchanges Commission, African policymakers, banks including EcoBank Transnational, Equity Bank and Africa Ex-Im Bank, technology companies, major development institutions, investors, farmer organizations, and others.

As global attention has focused on Africa’s agricultural growth and food security, the need for innovative market instruments to bring efficiency and transparency to commodity markets has been a major theme of the G20 Cannes Summit under the French Presidency.

A lively interaction is anticipated as the Convening debates Africa’s positioning in the global commodity market, the role of the state versus the private sector, the financial stakes, the power of information technology, the impact on farmers’ livelihoods, and the issue of price volatility among the gathered experts and high-level delegates.

The ultimate objective is to achieve a common African position held between government and the business community on how to best achieve the potential of commodity exchanges and to create prosperity for Africa.